Residency
Portugal Golden Visa
The Portugal Golden Visa program is a residence by investment initiative that allows non-EU nationals to obtain residency in Portugal. It typically requires a minimum investment, which has recently changed, and offers the possibility of permanent residency or citizenship after five years. The program has undergone updates, including the elimination of real estateinvestment as a qualifying option. Here are the key details:
Minimum Investment Amounts:
€500,000 in qualifying investment funds (Venture Capital or Private Equity).
€500,000 in an existing Portuguese business that creates at least five full-time jobs.
€250,000 for contributions to cultural heritage preservation.
€500,000 for scientific research contributions.
Eligibility and Requirements
Residency Duration:
Applicants must maintain their investment for a minimum of five years.
A minimum stay of seven days in the first year and 14 days in subsequent two-year periods is required.
Family Inclusion:
The main applicant can include their spouse, children under 18, and dependent parents in the application.
Citizenship:
After five years, Golden Visa holders can apply for permanent residency or citizenship, provided they meet the necessary requirements, including a clean criminal record and basic knowledge of the Portuguese language (A2 level).
Greece Golden Visa
The Greece Golden Visa program is a residency-by-investment initiative that allows non-EU citizens to obtain Greek residency by making a qualifying investment, primarily in real estate. Launched in 2013, it offers a five-year residence permit with no minimum stay requirement, making it an attractive option for investors Investment Requirements
Minimum Investment Amount:
€250,000 in Greek real estate.
Investment Options:Real estate acquisition.
Government bonds or shares.
Eligibility and Family Inclusion
Family Members:
The main applicant can include their spouse and children under 21.
Parents and parents-in-law can also be included under the Extended Family benefit.
Residency Duration:
No minimum stay requirement to maintain residency status.
To apply for citizenship, a minimum of seven years of residency is required.
Application Process
Processing Time:
Typically takes around six months for approval.
Renewal and Citizenship
Path to Citizenship:
After seven years of residency, holders can apply for Greek citizenship, subject to meeting language and cultural knowledge requirements.
Malta Permanent Residence
The Malta Permanent Residence Programme (MPRP) allows non-Maltese individuals to obtain residency in Malta through investment. Here are the key details:
Investment Requirements:
Administrative Fee: A non-refundable fee of €40,000.
Property Rental: Rent a property for a minimum of €12,000 per annum (or €10,000 in South Malta/Gozo) for five years, or purchase property valued at €350,000 (or €300,000 in South Malta/Gozo).
Government Contribution: A contribution of €58,000 for renting or €28,000 for purchasing property.
Donation: A €2,000 donation to a registered NGO in Malta.
Eligibility Criteria:
Age: Applicants must be over 18 years old.
Clean Criminal Record: A clean criminal record is mandatory.
Financial Means: Applicants must demonstrate a minimum net worth of €500,000, with at least €150,000 in financial assets.
Health Insurance: Proof of health insurance coverage in Malta is required.
Application Process:
Licensed Agent: Applicants must appoint a Licensed Authorized Agent to assist with the application.
Due Diligence: A four-tier due diligence process is conducted to verify the applicant's background.
Processing Time: The application typically takes four to six months to process.
Benefits of MPRP:
Successful applicants receive a Certificate of Maltese Residence, allowing them to live in Malta indefinitely.
Family Inclusion: The main applicant can include dependents such as a spouse, children, and in some cases, dependent parents.
Visa-Free Travel: Residents enjoy visa-free travel within the Schengen Area for up to 90 days within a 180-day period.
Renewal and Compliance:
Validity:
The residence permit is valid for five years and can be renewed indefinitely, provided the investment is maintained.
Annual Compliance:
Applicants must submit proof of property lease and health insurance annually for the first five years.
The Malta Permanent Residence Programme offers a pathway for non-EU nationals to enjoy the benefits of living in Malta, including a high quality of life, access to the EU, and a favorable tax environment.
Spain Residency
As of my last update, Spain introduced a Digital Nomad Visa to attract remote workers and digital nomads to live and work in the country. This visa allows non-EU citizens to reside in Spain while working for non-Spanish companies. Here are the key details regarding the Spain Digital Nomad Visa:
Eligibility Criteria:
Employment: Applicants must be employed by a non-Spanish company or be self-employed with clients outside of Spain.
Remote Work: The work must be conducted remotely, meaning the applicant can work from anywhere, including Spain.
Minimum Income: Applicants must demonstrate a minimum monthly income, which is typically set at 200% of the Spanish minimum wage (this amount may vary, so it's essential to check the latest figures).
Experience: Applicants should have at least three years of professional experience in their field.
Processing Time:
The processing time can vary, but it generally takes a few weeks to a few months.
Duration and Renewal:
Initial Duration: The Digital Nomad Visa is typically granted for one year.
Renewal: It can be renewed for up to two additional years, provided the applicant continues to meet the eligibility criteria.
Family Inclusion:
The visa allows for family members (spouse and children) to accompany the primary applicant, who can apply for their residence permits.
Tax Implications:
Digital nomads may be subject to Spanish tax laws if they spend more than 183 days in Spain within a calendar year. However, Spain has introduced favorable tax regimes for certain remote workers, which may apply.
Benefits
Quality of Life: Spain offers a high quality of life, rich culture, and a favorable climate.
Access to Europe: The visa allows for travel within the Schengen Area.
Community: Spain has a growing community of digital nomads and remote workers, providing networking opportunities.
UK Business Expansion Visa
Also known as the Innovator Founder Visa, is designed for entrepreneurs who want to establish or expand a business in the UK. This visa is part of the UK’s broader strategy to attract talented individuals and innovative businesses to contribute to the UK economy. Here are the key details regarding the UK Business Expansion Visa:
Eligibility Criteria:
Endorsed Business Idea: Applicants must have a viable business idea that has been endorsed by an approved UK organization. This organization must assess the business plan and confirm that it is innovative, viable, and scalable.
Business Experience: While not strictly required, having prior business experience or relevant qualifications can strengthen an application.
English Language Proficiency: Applicants must demonstrate proficiency in English, typically by passing an approved English language test or holding a degree taught in English.
Maintenance Funds: Applicants must show that they have enough personal savings to support themselves while in the UK.
Duration:
The Business Expansion Visa is typically granted for 3 years and can be extended for an additional 3 years. After 5 years of continuous residence in the UK, holders may be eligible to apply for Indefinite Leave to Remain (ILR).
Benefits:
Work Flexibility: Visa holders can work on their business and also take on other work in the UK.
Family Inclusion: Holders can bring dependents, including spouses and children, to the UK.
Pathway to Settlement:
After 5 years, visa holders may apply for ILR, allowing them to stay in the UK permanently.
UAE Golden Visa
long-term residency program that allows foreign nationals to live, work, and study in the United Arab Emirates without the need for a local sponsor. Launched in 2019, the program aims to attract talented individuals, investors, entrepreneurs, researchers, and outstanding students to contribute to the UAE's economy and society. Here are the key details:
Eligibility Categories:
Investors:
Must invest at least AED 2 million (approximately USD 545,000) in real estate or other approved investments.
Entrepreneurs:
Must have a startup with a minimum capital of AED 500,000 (approximately USD 136,000) or be a partner in a startup with a similar investment.
Exceptional Talents:
Includes individuals with exceptional talents in fields such as science, culture, art, and sports. This category may also include researchers and specialists in various fields.
Outstanding Students:
High-achieving students from UAE secondary schools or top universities worldwide can qualify for the Golden Visa.
Medical Professionals:
Doctors and specialists in various medical fields can also apply.
Duration:
The Golden Visa is typically granted for 5 or 10 years, depending on the category, and is renewable.
Application Process:
Documentation: Applicants must provide necessary documents, including proof of investment, educational qualifications, and a clean criminal record.
Submission: Applications can be submitted online through the Federal Authority for Identity and Citizenship (ICA) or through relevant authorities in various emirates.
Processing Time: The processing time can vary but is generally completed within a few weeks.
Benefits:
Long-Term Residency: The Golden Visa allows holders to live in the UAE for an extended period without the need for a local sponsor.
Family Inclusion: Holders can sponsor family members, including spouses, children, and parents, for residency.
Business Opportunities: The visa facilitates easier business setup and investment opportunities in the UAE.
Access to Services: Golden Visa holders can access various services, including healthcare and education.
Reach Out for more information
Contact Passport Gates to explore your citizenship & residency options today.